Louisville's Real Goods Solar seeks to raise $9.25M

Real Goods Solar Inc., a Louisville-based installer of solar energy systems, looks to raise $9.25 million through a private placement of stock, officials announced Friday.

Real Goods Solar (Nasdaq: RSOL) plans to issue just under 3.37 shares of its Class A common stock at $2.75 per share and also issue 1.68 million stock purchase warrants that have a five-year term and an exercise price of $2.75 per share.

After placement agent fees and offering expenses, the private placement is expected to result in net proceeds of $8.4 million for Real Goods Solar, officials said.

The company anticipates closing the offering by June 5, 2013.

During its first quarter, which ended March 31, Real Goods Solar (Nasdaq: RSOL) reported that its losses widened to $3.79 million from $1.86 million and revenue shrunk to $16.8 million from $18.3 million.

Company officials attributed the declines in revenue to pricing pressures within the solar installation industry.

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